Posted by admin | Posted in Real Estate | Posted on 20-04-2010
- ISBN13: 9780470419816
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product Description
Cashing in on Pre-foreclosures and Short Sales shows investors exactly how to take advantage of what many are calling the best upcoming investment real estate market we have experienced in decades! Chip distinguishes the difference between good deals and bad deals, reveals just how easy it is to find, evaluate, and obtain foreclosure properties, tells how to negotiate a profitable transaction, and unveils the power of using short sales and other strategies to create… More >>
With so many foreclosures in the marketplace, I was looking for a true hands-on book that would show me how to get into my first home. This book fits the bill perfectly!
The book has actual letters to sellers, letters to the banks, forms, checklists and even comprehensive inspection checklists that I was able to use in selecting and evaluating properties. I had a hard time copying some of the forms, but there’s a link which allowed me to download a printable version which made it a lot easier.
This was the most up-to-date information I could find on foreclosures and short sales, and I look forward to giving it to my brother who is a real estate investor, as parts of our market have started to come back a little.
It’s well laid out, easy to follow and filled with real practical stuff – instead of fluff.
Rating: 5 / 5
This one was a good find. Got it on a whim, but impressed with the number of forms, letters and checklists – especially since they can be downloaded. Have bought several properties in the past, and the book gave me some new marketing ideas and ways to find properties. Now if we could just get the government to cooperate!
Rating: 5 / 5
A bundle of very useful information linked with the proper forms/letters that can be downloaded. I recommend this book to any serious investor interested in this market. It gives you all the necessary insights to succeed.
Rating: 4 / 5
This is a very thorough book on real estate investing, with an emphasis on buying, specifically on buying distressed houses at a discount of their actual value. When I began reading I was expecting an outline of the author’s “secret” for making money on these homes in these very bad times. I got to page 145 before I realized there was no secret. After your due diligence and calculations you make an offer, and if the seller signs on the dotted line you own the home. It’s yours. No arbitrage, no behind-the-scenes bank deals, no magic wand. You can then either rent it or sell it, just as you would any other piece of real estate.
This book is worth the money because the author gives excellent advice on valuing a “near-foreclosure,” and in fact any home. All of which is quite useful in any market. The only problem is that to follow all his recommendations you pretty much have to quit your job (if you still have one) and have enough $$ to survive until your resell your first property. And that could be a very long time indeed. People aren’t buying, banks supposedly aren’t lending, and due to the job situation fewer people are moving.
As the author points out the average home is on the market for 11 months. How many investors, at this juncture, can pay taxes and maintenance on an empty investment property for 11 months? And what does this investor do when, 11 months (or 24 months) down the road, the home’s price has fallen by 25, 40, or 50%?
If you think that can’t happen, you haven’t been watching this economy very closely.
This book would get five stars during a “normal” recession, where you expect things to pick up in six to twelve months. During a meltdown it’s sheer madness to commit your time and capital to assets that probably, sadly, still have a long way down to go.
Rating: 3 / 5
I bought this book after browsing it and realizing it wasn’t promising the universe. It’s a straightforward, practical guide for buying foreclosures and shorts. It doesn’t try to fool you into thinking it’s easy, but it gives you all the necessary steps (and helpful supplemental materials) to do it.
I really liked the theme that Mr. Cummings weaves throughout the chapters: that in getting your hands a little dirty, you still need to do it with honesty and “forthrightedness”. There’s an underlying message that there’s a right way and a wrong way to doing business, and he teaches the high-road approach. Even the password you need to enter to access the supplemental material emphasizes this theme.
The most impressive aspect of this book was the author’s standing by his word. He offers his email address and encourages the reader to contact him with questions. I took him up on that and was a bit surprised to receive a timely, personalized reply, and not a pitch for more products. In fact, he followed up with me to ensure I got what I needed. For my $20, I’d say he more than delivered.
Rating: 5 / 5